Wealth Enhancement Advisory Services LLC Sells 20,231 Shares of Elevance Health, Inc. $ELV

Wealth Enhancement Advisory Services LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 31.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 43,122 shares of the company’s stock after selling 20,231 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Elevance Health were worth $15,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Canoe Financial LP boosted its position in shares of Elevance Health by 18.1% in the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after acquiring an additional 59,743 shares during the period. Synergy Asset Management LLC increased its position in Elevance Health by 100.0% during the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after acquiring an additional 52,167 shares during the period. Delta Investment Management LLC acquired a new position in Elevance Health during the 3rd quarter valued at $7,629,000. Verdence Capital Advisors LLC boosted its holdings in Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock valued at $8,251,000 after purchasing an additional 790 shares during the period. Finally, OLD National Bancorp IN grew its position in Elevance Health by 44.8% in the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after purchasing an additional 1,939 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Elevance Health from $297.00 to $340.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Barclays raised their price objective on Elevance Health from $385.00 to $404.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Finally, Mizuho set a $413.00 price objective on Elevance Health in a research report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Stock Up 0.6%

Shares of ELV opened at $372.01 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $348.27 and a two-hundred day moving average price of $328.77. The stock has a market cap of $82.68 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.03 by $1.00. The company had revenue of $50.09 billion for the quarter, compared to analyst estimates of $49.26 billion. Elevance Health had a return on equity of 16.17% and a net margin of 2.84%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $8.37 EPS. Equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.